Staatsolie Annual Report 2017
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<strong>Annual</strong> <strong>Report</strong> <strong>2017</strong> 25<br />
Independent<br />
Auditor’s <strong>Report</strong><br />
to the shareholder of <strong>Staatsolie</strong> maatschappij Suriname n.v.<br />
<strong>Report</strong> on the Audit of the Consolidated<br />
Financial Statements<br />
Opinion<br />
We have audited the consolidated financial<br />
statements of <strong>Staatsolie</strong> Maatschappij Suriname<br />
N.V. (“the Group”), which comprise the<br />
consolidated statement of financial position as<br />
at 31 December <strong>2017</strong> and 2016 the consolidated<br />
statement of profit or loss, the consolidated<br />
statement of other comprehensive income,<br />
consolidated statement of changes in equity and<br />
consolidated statement of cash flows for the<br />
years then ended, and notes to the consolidated<br />
financial statements, including a summary of<br />
significant accounting policies.<br />
In our opinion, the accompanying consolidated<br />
financial statements present fairly, in all material<br />
respects, the financial position of the Group as<br />
at 31 December <strong>2017</strong> and 2016 and its financial<br />
performance and its cash flows for the years then<br />
ended in accordance with International Financial<br />
<strong>Report</strong>ing Standards (“IFRSs”).<br />
Basis for Opinion<br />
We conducted our audit in accordance with<br />
International Standards on Auditing (“ISAs”). Our<br />
responsibilities under those standards are further<br />
described in the Auditor’s Responsibilities for the<br />
Audit of the Consolidated Financial Statements<br />
section of our report. We are independent of the<br />
Group in accordance with the International Ethics<br />
Standards Board for Accountants’ Code of Ethics<br />
for Professional Accountants (“IESBA Code”), and<br />
we have fulfilled our other ethical responsibilities in<br />
accordance with the IESBA Code. We believe that<br />
the audit evidence we have obtained is sufficient<br />
and appropriate to provide a basis for our opinion.<br />
Other Matter paragraph<br />
The consolidated financial statements of the<br />
Group for the year ended 31 December 2015 was<br />
prepared, in accordance with Generally Accepted<br />
Accounting Principles in the United States<br />
(“USGAAP”) were audited by another auditor<br />
who expressed an unmodified opinion on those<br />
statements on 30 May 2016. As part of our audit<br />
of these consolidated financial statements, we<br />
also reviewed the adjustments described in Note<br />
2.4 that were applied to amend the 2015 financial<br />
statements. In our opinion, such adjustments are<br />
appropriate and have been properly applied. We<br />
were not engaged to audit, review, or apply any<br />
procedures to the 2015 consolidated financial<br />
statements of the Group other than with respect<br />
to the above-mentioned adjustments and,<br />
accordingly, we do not express an opinion or any<br />
other form of assurance on the 2015 consolidated<br />
financial statements taken as a whole.<br />
Key audit matters<br />
Key audit matters are those matters that, in our<br />
professional judgment, were of most significance in<br />
the audit of the consolidated financial statements<br />
of <strong>2017</strong> and 2016. These matters were addressed<br />
in the context of the audit of the consolidated<br />
financial statements as a whole, and in forming the<br />
auditor’s opinion thereon, and we do not provide<br />
a separate opinion on these matters. For each<br />
matter below, our description of how our audit<br />
addressed the matter is provided in that context.
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